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Guideline Value

Corporate

Guideline Value for Seshadripuram / Ramagiri Nagar 2nd Street

₹4950/sq.ft.

The guideline value for Seshadripuram / Ramagiri Nagar 2nd Street in Velachery village (Velacheri SRO, Chennai zone) is Rs 4950 per sq.ft, effective 1 July 2024. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Velachery

Village

Velacheri

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹4950 /sq.ft.
From 1-4-2023 N/A
From 9-6-2017 To 31-3-2023 ₹3015 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Seshadripuram / Ramagiri Nagar 2nd Street

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Seshadripuram / Ramagiri Nagar 2nd Street guideline value

The current guideline value of Seshadripuram / Ramagiri Nagar 2nd Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Seshadripuram / Ramagiri Nagar 2nd Street has changed

The guideline value for Seshadripuram / Ramagiri Nagar 2nd Street has seen several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 4,500 per sq.ft. This was followed by a decrease in 2017, where the value dropped to Rs 3,015 per sq.ft. However, the most recent revision in 2024 shows a significant increase to Rs 4,950 per sq.ft, marking a 64% rise from the 2017 figure.

Overall, comparing the 2012 revision to the 2024 revision, there has been a net increase of 10%. It is important to note that there are no figures available for the years 2023, 2007, 2003, and 2002 in the register for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with guideline values for 2024 ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, making the current guideline value of Seshadripuram / Ramagiri Nagar 2nd Street above this median.

Stamp duty and registration fee for property in Seshadripuram / Ramagiri Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, totaling Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Seshadripuram / Ramagiri Nagar 2nd Street?

The Seshadripuram / Ramagiri Nagar 2nd Street falls under the Velacheri Sub Registrar Office located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Velachery

The guideline value is a critical factor during the registration of property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

Frequently asked questions

What is the current guideline value for Seshadripuram / Ramagiri Nagar 2nd Street?

The current guideline value for Seshadripuram / Ramagiri Nagar 2nd Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, and then to Rs 4,950 per sq.ft in 2024. Overall, this shows a 10% increase from the 2012 figure to the 2024 figure.

What is the land classification for this street?

Seshadripuram / Ramagiri Nagar 2nd Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the registration office for this area?

The registration office for Seshadripuram / Ramagiri Nagar 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable based on the guideline value.